Slovakia Inflation

Slovakia

Slovakia: Consumer prices continue downward trajectory and record a flat reading in July

August 14, 2014

In July, the consumer price index fell 0.1% over the previous month, which contrasted June’s 0.1% increase. Prices in 7 of the 12 categories that make up the index rose in July. The reading reflects that a marginal increase in prices for recreation and culture as well as for alcoholic beverages and tobacco was offset by slightly lower prices for food and non-alcoholic beverages as well as for tobacco.

Consumer prices recorded a flat reading over the same month last year in July, which came in below the small 0.1% rise recorded in June. Meanwhile, the harmonized index of consumer prices inched further down from June’s 0.1% drop to a 0.2% decline in July. Annual average HICP inflation decreased from 0.4% in June to 0.3% in July, the lowest rate since June 2010.

The Central Bank expects HICP inflation to average 0.2% in 2014 and 1.9% in 2015. FocusEconomics Consensus Forecast participants expect HICP inflation to average 0.3% this year, which is down 0.1 percentage points compared to last month’s forecast. In 2015, the panel expects HICP inflation to increase to 1.5%.


Author: Teresa Kersting, Economist

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